TaxTMI 
TaxTMI 
income tax on PPF closure before 5 yrs
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....ncome tax on PPF closure before 5 yrs<br> Query (Issue) Started By: - janes joseph Dated:- 1-8-2014 Last Reply Date:- 6-8-2014 Income Tax<br>Got 4 Replies<br>Income Tax<br>PF/VPF qamount is normally f....
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....ree from tax, including interest gained on it. But if its closed before 5yr continuous service, then its taxable. So, if i close my account before 5 yr but the final amount i receive will not cross ....
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....my tax limit for that FY, then should i pay any tax on PF/VPF ? Say, if i have a total income including pf closure amount within 2 lakhs/2.5lakhs(new limit), I dont have to pay tax, right ? Reply B....
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....y CA GOPALJI AGRAWAL: The Reply: If total income is below taxable then no tax is payable. Reply By janes joseph: The Reply: Hi CA GOPALJI AGRAWAL, Is it like: Employer's Contribution and interes....
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....t there on: Taxable as Salary Income. Employee's own Contribution : Taxable under the head income from other sources as special income u/s 111 @ 10%. Interest on employee's contribution: Taxable as....
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.... income from other sources as special income u/s 111 @ 10%. So is there a rule that the basic exemption limit is not applicable on special income ? Reply By CA GOPALJI AGRAWAL: The Reply: No the b....
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....asic exemption limit would be available. Reply By CA GOPALJI AGRAWAL: The Reply: Please read , after no. I mean basic exemption limit is available.<br> Discussion Forum - Knowledge Sharing ....